The Central Bank of Nigeria (CBN) has denied reports making the rounds that it has authorized banks to collect the old N500 and N1,000 banknotes.

The CBN, in a statement signed by its Director of Corporate Communications, Osita Nwanisobi on Friday, said that it is only reissuing and recirculating the old N200 banknotes which is expected to circulate as legal tender up to April 10, 2023, in line with President Muhammadu Buhari’s directive.

The CBN advised the public to disregard any message and/or information not formally released by the bank on this subject. The apex bank also advised media practitioners to endeavour to verify any information from the correct sources before publication.

See publication below:

PRESS RELEASE pic.twitter.com/AXkUlDGjx7

— Central Bank of Nigeria (@cenbank) February 17, 2023